What questions should I ask my accountant? (part 1)

Sep 19, 2017

In the first part of our questions to consider, finding the right accountant for you and your business is crucial, but it can be a daunting prospect. Most people think all accountants are the same, but this is certainly not the case, and finding the right one can make a huge difference to your business.

To help you, here are some questions you should ask an accountant before appointing them to help you with your business affairs:

How long have you been in business?

An accountant who has experience of starting up a small business themselves will understand the challenges you face and can help you though them. They should also be able to speak ‘your language’, as communication between you is vital. Make sure to schedule at least one face to face meeting each year, as chatting through your business in person is much more effective than pinging emails backwards and forwards.

How do you keep up to date?

The world of tax is ever changing so it is important to have an accountant who is up to date with the latest developments and can help you maximise the opportunities available to your business. It is always recommended to choose an accountant who is registered with a professional body, such as the ICAEW (Institute of Chartered Accountants in England and Wales) as they will be required to submit training records annually in order to retain their membership. This will also give you confidence that their professional conduct is monitored, and you will have someone to contact if you are unhappy with the service provided.

How do you calculate your fees?

Some accountants work on a fixed-fee basis, others charge by the hour. It is important that you know up front what is included in the quote you they give you. It is important from the outset for you both to know what you are paying for. You want to feel able to contact them if you have a question without receiving a surprise invoice.  We would always recommend confirming fees up front for any additional work with your accountant.

Once you have found the right accountant for you, it could be the start of a long and hopefully happy relationship!

If you would like to see how we could help you with your business, new or old, please feel free to contact us.  All initial meetings are free of charge and of course at no obligation to you.

Please visit our website and like our Facebook page (Croombs Chartered Accountants) to hear about other useful tips for your business. Alternatively you can give us a call on 01264 726681 or visit www.croombsca.com for information on other services we can offer.

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